Monday, February 01, 2010 CANBERRA: Australia's population is projected to grow by more than half to 36 million by mid-century, mainly through immigration, a government report said Monday. The additional 14 million people that Australia anticipates adding to its current population of 22 million by 2050 is cited in a report aiming to help lawmakers plan for the future challenges of an aging population, escalating health costs and urban overcrowding. In releasing the report, Treasurer Wayne Swan said that while a population of 36 million was not a target, such population growth could help pay for upcoming generations of retirees. The number of Australians over the retirement age of 65 is expected to double by 2050, while its GDP is expected to slow to an annual average of 2.7 percent by then. GDP has averaged 3.3 percent over the last 40years. ``To some extent, the higher population growth would help us manage the challenges of an aging population,'' Swan told the Nat...
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